Ann: Company Presentation Update - October , page-2

OK, as I've been saying, the $15.42 cash cost is unattainable. Unfortunately that number has arisen through an inability to use a calculator.

Slide 11 of this announcement has the fiction. If you divide the C1 cash cost by the assumed production ounces you get a C1 cash cost of $17.88. The C3 cash cost comes out at $21.44. I don't believe either of these figures are achievable either.

The cash costs as per the 5B for the year were $23.052m, for production of 703,470 ozs. The company expects you to believe that it can produce an extra 576,530 ozs in 2013/14, that's an 82% increase, for less money; $22,880,161.